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EVENTS

The Italian Commercial Exemption: an Overview

ECPY Symposium and Open Day, 18 - 20 April 2017

Thibault Hermant, Group Operations Manager for SOS Yachting, was invited to speak about fiscal issues impacting the commercial yachting at the ECPY Symposium on April 18, 2017.

Thibault provided a short overview of the Italian Commercial Exemption (ICE) which came into force earlier this year in the context of EU wide operations. Starting with a brief explanation of why the ICE came into force, he explained how to comply, the outcome of non-compliance and how to handle compliance with ICE and FCE.

A number of questions still remain unanswered including how to measure a voyage, what proof of navigation will have to be provided and what documentation will be required by vendors, typically bunkering.

Thibault also gave a brief overview of the changes expected to come into force in Croatia on May 1, 2017.